At Novo, we’re committed to helping you make the most of your business banking, and keeping your account active is key to that.
To ensure your account remains ready for opportunity, please note that if your account ends the day with a balance of $0 for 130 consecutive days even if you’re actively depositing and spending during the day, it may indicate that no funds are available when it matters most, and the account could be closed. To help you avoid any inconvenience, we send reminder notifications that encourage you to maintain a positive balance well before the 130 day mark.
In addition, if your account has seen no activity since it was opened and remains unfunded, it might also be closed after a long period of inactivity. Remember, there are no minimum balance fees with Novo, so if you’d like to keep your account open for future business ventures, we recommend maintaining even a small amount of funds to prevent closure.
Rest assured, if your account is closed under these circumstances, it won’t affect your eligibility with us and you’re always welcome to reapply for a new account with Novo. If you have any questions or need further assistance in keeping your account active, please don’t hesitate to reach out.